One Of The Biggest Mistakes You Can Make As An Investor Is Believing The Lender’s Inspector Has Your Best Interest In Mind.
Have you thought to yourself, “I’m not like them. I would never allow myself to get wrapped up in a bad investment.
On the other hand…
A multifamily property that looks good on the surface but is, in fact, riddled with damaged pipes, an HVAC system on its last leg, leaking roofs, or foundation problems can cause significant budget overruns, send your profits spiraling and have you in the red—wishing you’d kept your money under a mattress instead.
One of the biggest mistakes you can make when considering the purchase of a multifamily property is believing the inspection paid for by the lender will provide you with the information you need to make the right decision.
Your Lender’s Objectives Are Not Your Own…
When a lender is considering the approval of a loan, they are looking to determine the level of risk associated with the investment and to ensure you have the ability to repay the loan.
They look at
- Your creditworthiness
- Your Debt-to-income ratio
- Your experience and financial stability
- The property’s current cash flow
- The property’s current cash flow
- The Loan-to-Value Ratio, which considers the appraised value of the property
- The location of the property
- The physical condition of the property (they are looking for a minimum livability standard)
- Market Conditions
- Property Type and Size
- And more…
The Lender-Paid Inspector Is Sent Out To Ensure The Property You're Considering Meets The Lender’s “Minimum” Standards.
With a Lender Paid Inspection, you receive:
With your OMNI team, you receive;
The Lender-Paid Inspector Is Sent Out To Ensure The Property You're Considering Meets The Lender’s “Minimum” Standards.
- If you are considering investing in a multifamily property…
- If you want to invest with certainty, knowing this property will produce consistent and reliable cash flow…
- If you don’t wish to be blindsided by unexpected costly repairs a few months or a few years down the road…
- If you want to know with certainty the true value of the property you’re considering, then your choice is clear…
Inspections Performed With The Team From OMNI Give You The Following Advantages:
- Independent and Objective due diligence, which ensures a more impartial assessment of the property without being influenced by the lender’s interests.
- Consideration of your interest above all else. Your interests are our interests. We have no conflicts and work to ensure your specific concerns and priorities are addressed.
- Thorough Examination. Your OMNI team provides a detailed and comprehensive report of each building, each available unit, and all the major systems from roofing to parking lots, plumbing and sewer lines, and more.
